Although the market continues to move higher, the USDJPY chart is showing some signs of fatigue in the upward momentum.
There is the development of a triple three wave structure on a higher time-frame. Currently, the wave [xx] has been formed. After this the price should resume its downward movement.
The lower-degree wave structure is noted within the WXY Double The formation of the wave (y) is now being completed. After this, the price may begin to move or form a more complex corrective wave structure.
Despite the positive dynamics of the market movement, the possibility of resuming the downward movement after the completion of the current wave shouldn’t be excluded.
In this situation, it should be emphasized that short positions remain preferable.